ETALON GROUP PLC (“Etalon Group” or the “Company”), one of Russia’s largest and longest-established development and construction companies, announces that it has acquired the rights to a 2.8-hectare land plot in the Nevsky district of St Petersburg for the development of a new residential project.
The total planned NSA of the new project is 76 ths sqm. This will include 56 ths sqm of residential space, as well as commercial premises and a parking garage. As most of the permit documentation has already been obtained, the Company aims to begin construction and launch sales within the next 12 months.
The hallmark of this project is its direct access to the Neva River, which will give residents a view of the water from their apartment windows. Two parks are also situated nearby. The site is located in a district with well-developed residential and transport infrastructure. It is just a 5-minute walk from the Elizarovskaya metro station, while the historical centre can be reached in 15 minutes by car. Proximity to the Alexandr Nevsky, Voldarsky, Vantoviy bridges, as well as to Obvodny canal provides easy access to major transport routes.
This is the third project acquired by Etalon Group in 2017 under its new strategy aimed at obtaining new, high-quality projects, with a focus on those that will be ready to launch within 6-18 months. The Company has also bought business class projects on Letnikovskaya Street in Moscow and on Aptekarskiy Prospect in St Petersburg, both of which are centrally-located in attractive neighbourhoods.
This and other recent announcements are available on the Etalon Group website: www.etalongroup.com/investors/news/
Etalon Group IR Team
T: +44 20 8123 1328
T: +44 7554 993 032
T: +7 499 918 3134
About Etalon Group
Founded in 1987 by Viacheslav Zarenkov, Etalon Group has become one of Russia's largest development and construction corporations. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas, where it operates through Etalon Invest and Etalon LenSpetsSMU subsidiaries. With a 30-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry - since its inception, Etalon Group has commissioned 5.6 million sqm.
Etalon Group's strong reputation among consumers supports its pre-sales business model, which helps the Company to minimise external financing needs for on-going projects while maintaining a secure liquidity position: net debt as of 31 December 2016 was RUB 7.8 billion.
The Company is vertically integrated, which helps it to control costs, quality and timing, as well as to demonstrate best-in-class profitability. Etalon Group employs 5 thousand people, and its nationwide sales and marketing network covers 52 Russian cities.
As of 31 December 2016, Etalon Group's portfolio comprised 35 projects, with a total of 2.82 million sqm of unsold net sellable area. JLL valued this portfolio at RUB 115,818 million.
For the year ended 31 December 2016, Etalon Group's new contract sales totalled 496 ths sqm, or RUB 47,443 million. Deliveries in 2016 amounted to 420 ths sqm.
The Company recorded revenue of RUB 49.0 billion and EBITDA of RUB 7.3 billion for the year ended 31 December 2016.
Etalon Group’s GDRs have been traded on the Main Market of the London Stock Exchange since 20 April 2011.